Remember how imperative it was that hedge funds register with and be closely monitored by the SEC so as to keep them from causing another financial crisis what with all of their riskiness? Well, as it turns out, all of that new data shows that hedge funds never did and never were. Oh well.

A preliminary analysis of a new trove of hedge fund data has found that the industry may not be as risky as conventionally thought, a U.S. Treasury Department official said on Monday….

“While these results are very preliminary, they seem to contradict the idea that hedge funds typically employ risky strategies,” Berner told an audience at The Brookings Institution.

“I want to emphasize that these conclusions are very tentative. They are based on a preliminary analysis of the data. And one should really take them as the starting point for further work,” he added.

The more frequently you monitor your portfolio, the more likely you are to observe a loss. This is likely to cause short-sighted decisions and could hurt your investment performance. If you are checking your portfolio more than once per quarter, you’re doing it too much.